Vietnam approves salary bump for state employees

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Báo Thanh Niên English - 33 month(s) ago 5 readings

The Vietnamese government will raise the minimum monthly salary for state employees by 26 percent to VND1.05 million (US$50) on May 1, according to a new decree.

The minimum salary will apply for employees in government organizations and one-member limited companies owned by the state. The previous rate, VND830,000, has been in place since last May.

Vietnam’s inflation fell for a seventh consecutive month in March. Consumer prices, however, still rose 14.15 percent year-on-year in March, official data showed.

According to the Asian Development Bank, average inflation in Vietnam could ease to just under double digits, but then quicken to 11.5 percent in 2013.

The Manila-based lender said the country’s private consumption decelerated to 4.4 percent last year as high inflation eroded real incomes. Consumption will get support from easing inflation in 2012, it said.

Last month, in an attempt to support local taxpayers, the Ministry of Finance announced a plan to raise the threshold for personal income tax to VND6 million per month from the current level of VND4 million in 2014.

The proposal was not well received by the public as well as experts, who said the break was meager and would be out of date when it comes into effect in 2014.

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